UPDATE: Tennant Co. (TNC) Tops Q3 EPS by 47c, Offers Outlook

Tennant Co. (NYSE: TNC) reported Q3 EPS of $1.33, $0.47 better than the analyst estimate of $0.86. Revenue for the quarter came in at $272 million versus the consensus estimate of $273.95 million.

2021 Business Outlook:

“Our full-year guidance reflects what continues to be a challenging operational environment, which we expect to persist well into 2022,” said Huml. “Nonetheless, given our return to pre-pandemic levels of overall product demand, we remain confident that we are in a long-term, global recovery for commercial and industrial cleaning equipment and are relentlessly focused on providing our customers with high-quality products and exceptional service as we execute on our growth strategy.”

For 2021, Tennant provides the following guidance:

1. Net sales of $1.09 billion to $1.1 billion, reflecting organic sales growth of 9 to 10 percent;
2. Full-year reported GAAP earnings in the range of $3.50 to $3.70 per diluted share;
3. Adjusted EPS of $4.20 to $4.40 per diluted share, which excludes certain non-operational items and amortization expense;
4. Adjusted EBITDA of $137 million to $142 million;
5. Capital expenditures of approximately $20 million; and
6. An adjusted effective tax rate of approximately 15 percent, which excludes the amortization expense adjustment.

(Consensus sees FY EPS of $4.35 on revenue of $1.1 billion)

For earnings history and earnings-related data on Tennant Co. (TNC) click here.

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